Before executing any accounting process, you can ensure that your bank accounts and opening balances are added into QuickBooks Payroll. Many users don’t know how to add employee bank account in QuickBooks Payroll, so proceed with the effective steps mentioned below. By following these steps, you can easily add the employee bank account in QuickBooks Payroll.
Effective Steps to Add employee Bank Account in QuickBooks Payroll
The effective steps to add employee bank account in QuickBooks Payroll are hereby given below in this article:
- To add a bank account, first of all, you have to Open the Company
- After that you have to select the option of chart of Accounts
- Now, you have to choose the Account section
- Click on the new tab
Step 1: Choose Appropriate Account Type
Select the option of Bank and tap on the option of Continue button at the bottom of the display.
Step 2: Name the Account
You have to enter the name of the account such as checking or saving. Hit on the option– Choose from example button if you need the assistance. The account name is the only information that is required.
Step 3: Attach To a Subaccount
You can select your account to mark your account as a subaccount of another account.
Step 4: Write an Account Description
You must type a description for your account, so that you will be familiar with it in your chart of accounts.
Step 5: Add a Bank Account Number
You have to type your bank account number to add the account number.
Step 6: Enter the Routing Number
You have to type the routing number.
Step 7: Select a Tax-Line Mapping
A tax-line mapping is used by accountants to prepare the books for the tax software and run an Income Tax Preparation Report.
Step 8: Type an Opening Balance
If you have an opening balance on your account, you have to type the required information. Hit on the option of Enter Opening Balance.
Step 9: Select the option of Check Settings
You have to enter all the check settings. If possible, then you can set a check reorder point and opt to order the checks that you can print directly from QuickBooks.
Step 10: Save Account
Hit on the option of Save and close button to save your new bank account.
Step 11: Enable Live Bank Feeds
Once you tap on the save button, you will get a notification of Enable live bank feeds. If you want to enable live bank feeds, you have to tap on the Yes button and continue on how to add employee bank account in QuickBooks Payroll. If you don’t want to enable live bank feeds, hit on the No button and proceed to the chart of accounts to check that your new account saved correctly.
By going through these steps, you come to know how to add employee bank account in QuickBooks Payroll instantly. If you are still facing issues after following the above content then you can reach our Quickbooks customer service team. Here our Quickbooks experts will provide you quick solutions to resolve add employee bank account in QuickBooks Payroll issues. Our team is 24/7 available for you support.